Selective Insurance Group, Inc. (NASDAQ:SIGI) Given Consensus Recommendation of "Hold" by Brokerages

Selective Insurance Group, Inc. (NASDAQ:SIGI - Get Free Report) has been given a consensus recommendation of "Hold" by the eight research firms that are covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $98.71.

A number of research firms have recently commented on SIGI. JMP Securities reissued a "market perform" rating on shares of Selective Insurance Group in a report on Thursday, January 30th. Keefe, Bruyette & Woods reissued a "market perform" rating and set a $93.00 target price (down previously from $116.00) on shares of Selective Insurance Group in a research note on Friday, February 7th. Finally, Morgan Stanley reduced their price target on shares of Selective Insurance Group from $95.00 to $87.00 and set an "equal weight" rating on the stock in a research note on Monday, February 3rd.

Hedge Funds Weigh In On Selective Insurance Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. R Squared Ltd bought a new stake in shares of Selective Insurance Group in the fourth quarter worth $25,000. Quarry LP acquired a new position in Selective Insurance Group during the 4th quarter worth about $38,000. UMB Bank n.a. grew its position in shares of Selective Insurance Group by 37.1% in the 4th quarter. UMB Bank n.a. now owns 429 shares of the insurance provider's stock valued at $40,000 after buying an additional 116 shares during the last quarter. MassMutual Private Wealth & Trust FSB increased its stake in shares of Selective Insurance Group by 957.1% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 444 shares of the insurance provider's stock valued at $42,000 after buying an additional 402 shares during the period. Finally, GAMMA Investing LLC raised its position in shares of Selective Insurance Group by 64.4% during the fourth quarter. GAMMA Investing LLC now owns 485 shares of the insurance provider's stock worth $45,000 after acquiring an additional 190 shares during the last quarter. 82.88% of the stock is currently owned by institutional investors and hedge funds.

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Selective Insurance Group Price Performance

Selective Insurance Group stock traded down $0.33 during trading hours on Friday, reaching $91.89. 71,103 shares of the stock were exchanged, compared to its average volume of 411,536. The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 0.17. Selective Insurance Group has a twelve month low of $78.13 and a twelve month high of $106.01. The company has a market cap of $5.58 billion, a P/E ratio of 28.54 and a beta of 0.54. The stock has a 50 day moving average of $86.46 and a two-hundred day moving average of $91.88.

Selective Insurance Group (NASDAQ:SIGI - Get Free Report) last posted its quarterly earnings results on Wednesday, January 29th. The insurance provider reported $1.62 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.99 by ($0.37). Selective Insurance Group had a return on equity of 7.33% and a net margin of 4.26%. Equities analysts expect that Selective Insurance Group will post 7.62 EPS for the current fiscal year.

Selective Insurance Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Friday, February 14th were given a dividend of $0.38 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $1.52 annualized dividend and a yield of 1.65%. Selective Insurance Group's dividend payout ratio is presently 47.20%.

About Selective Insurance Group

Selective Insurance Group, Inc, together with its subsidiaries, provides insurance products and services in the United States. The company operates through four segments: Standard Commercial Lines, Standard Personal Lines, E&S Lines, and Investments. It offers casualty insurance products that covers the financial consequences of employee injuries in the course of employment and bodily injury and/or property damage to a third party; property insurance products, which covers the accidental loss of an insured's real property, personal property, and/or earnings due to the property's loss; and flood insurance products.